The annual conference held this week suggested that the Chinese government should reduce the reserve requirement ratio as well as interest rates when appropriate. It was also suggested that the government issue ultra-long special treasury bonds and local government special-purpose bonds.
China’s Central Economic Work Conference emphasised a higher deficit-to-GDP ratio for 2025, proactive fiscal measures, and moderately loose monetary policies, including special treasury bonds and interest rate cuts.
The Ministry of Commerce expressed openness to dialogue with the incoming US administration, aiming to enhance bilateral trade while opposing unilateral tariffs.
Meanwhile, China’s Ministry of Commerce has expressed openness to engaging with the new US administration’s economic team. The new economic and trade team has been appointed by President-elect Donald Trump, who will assume office on January 20, 2025.
While opposing imposition of unilateral tariffs, China is willing to strengthen its communication and coordination with the US, in order to push for steady and long-term bilateral growth in trade relations between the two countries, spokesperson He Yadong told a press conference.
Fibre2Fashion News Desk (RKS)
